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Industry Reacts: Biden Nominates Thompson for FHFA Director

President Joseph R. Biden has nominated Sandra L. Thompson to the serve as the Director of the Federal Housing Finance Agency (FHFA). Thompson has been serving as the Acting Director since June 2021. 

“Thompson has over four decades of government experience in financial regulation, risk management, and consumer protection,” said a White House press release. “She has served as the Deputy Director of the Agency’s Division of Housing Mission and Goals (DHMG) since 2013. As DHMG Deputy Director, Thompson oversaw FHFA’s housing and regulatory policy, capital policy, financial analysis, fair lending, and all mission activities for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Prior to joining FHFA, Thompson worked at the Federal Deposit Insurance Corporation (FDIC), for more than 23 years in a variety of leadership positions, most recently as Director of the Division of Risk Management Supervision. During her time at FDIC, Thompson led the Agency’s examination and enforcement program for risk management and consumer protection at the height of the financial crisis. She also led the FDIC’s outreach initiatives in response to a crisis of consumer confidence in the banking system.” 

Thompson is likely to face questioning during her confirmation hearing about her plans for Fannie Mae and Freddie Mac, which are being held in government conservatorship. 

Housing and Urban Development Secretary Marcia L. Fudge approved of the nomination after it was announced. 

“As a longtime public servant at the Federal Housing Finance Agency, Sandra Thompson is immensely qualified to lead the agency and continue its critical work,” Fudge said. “I applaud President Biden’s nomination of Acting Director Thompson and it is my hope that the Senate will move quickly to confirm her.” 

David M. Dworkin, President and CEO of the National Housing Conference echoed similar sentiments. 

“President Biden’s nomination of Sandra Thompson to serve as Director of the FHFA is the right choice for one of the most important jobs in housing,” Dworkin said. “Since her appointment as FHFA Acting Director in June, Thompson has repeatedly demonstrated her commitment to an equitable housing finance system. Her extensive experience at the Federal Deposit Insurance Corporation makes her particularly well qualified to oversee the safety and soundness of the housing industry through the Government Sponsored Enterprises.” 

“Should she be confirmed to a five-year term at FHFA’s helm, she will have a unique opportunity to leverage her decades of experience to ensure Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System meet the needs of all American families, including those who have not traditionally been served by our housing finance system.” 

"Ms. Thompson, brings a sense of balance and stability to Federal Housing Finance Agency that will be welcomed by the servicing community,” said Ed Delgado, Managing Director, MPA, and Chairman of Five Star Global. “In her short tenure as Acting Director, Sandra has established a tone of fairness and leadership—a tone that will foster the growth of affordable housing and close the housing-wealth gap in the United States. I anticipate and encourage a swift confirmation process and look forward to working with Acting FHFA Director Thompson.” 

 

About Author: Kyle G. Horst

Kyle Horst
Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at kyle.horst@thefivestar.com.
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